Russian government reveals funding for Angola satellite

12 August 2013 | Kavit Majithia

The Russian government has released the funding of approximately €286.3 million to commence work on the first satellite of Angola.

According to a Russian diplomat in the country, the Angosat project, developed by a Russian consortium initially planned the launch for 2015, but should now be completed by 2016 due to delays in funding.

Financing for the project was led through a Russian public bank named Ruseximbank, with the diplomat claiming the project could take up to two to three years particularly due to construction phases, satellite launches and the construction of operations centres.

The launch of satellite in Angola will further allow the country to provide telecoms services support and provision broadband and TV.